TFI International, a North American leader in transportation and logistics headquartered in Canada, recently acquired the assets of MCT Transportation.
Originally Midwest Coast Transport, MCT was a refrigerated and dry van subsidiary of Comcar Industries, which, along with its other subsidiaries, filed Chapter 11 petitions in the US Bankruptcy Court on May 17. TFI paid $9.6 million for MCT’s assets, including accounts receivable, along with $2.8 million for two real estate properties.
Headquartered in Sioux Falls SD, MCT provides transportation for companies in the packaged food, agricultural, medical and automobile industries, primarily throughout the Southeast and Midwest regions of the US, and generated 2019 revenue before fuel surcharge of approximately $45 million, TFI said. Its driving team operates more than 130 tractors, in addition to 90 owner-operator tractors, plus 340 reefer trailers and 275 dry van trailers.
MCT Transportation, which will become part of TFI’s truckload segment, had four terminal locations, including two acquired by TFI, in Florida and Arkansas.
“We are excited to welcome the MCT team to TFI International to help enhance our truckload capabilities in the US,” said Alain Bédard, chairman, president and chief executive officer of TFI. “MCT brings a host of capabilities, including key regionalized lanes in the Midwest and Southeast, specialized Florida-originating outbound lanes, and dedicated Midwest-West lanes.
“Importantly, MCT has strong overlap with our existing customers, allowing us to provide service across an expanded region, as well as overlap in multiple facilities, which we can leverage to drive significant efficiencies.”
